Capital Markets Manager

At Upstart, we’re united by a mission that matters: to radically reduce the cost and complexity of borrowing for all Americans. Every day, we bring creativity, experimentation, and advanced AI to reshape access to credit, helping millions move forward financially with clarity and confidence. As the leading AI lending marketplace, we partner with banks and credit unions to expand access to affordable credit through technology that’s both radically intelligent and deeply human. Our platform runs over one million predictions per borrower using more than 1,800 signals, powering smarter, fairer decisions for millions of customers.

We’re proudly digital-first, giving most Upstarters the flexibility to do their best work from wherever they thrive, alongside teammates across 80+ cities in the US and Canada. Digital-first doesn’t mean distant. We’re intentional about in-person connection through team onsites, planning sessions, and moments that spark creativity and trust. Whether you choose to work primarily from home or collaborate in-person from one of our offices in Columbus, Austin, the Bay Area, or New York City (opening Summer 2026), you’ll have the support to work in the way that works best for you.

About the role

The Capital Markets team plays a pivotal role in securing loan funding capital for our AI lending marketplace. We collaborate with leading institutional investors across a diverse range of financing and funding solutions, including securitizations, whole loan sales, co-investment partnerships, and other structured transactions. Within Capital Markets, the Structured Products team oversees Upstart’s securitization, pass-thru, and financing programs. Upstart has been an active issuer in the asset-backed securities (“ABS”) markets since 2017 with over $9 billion in aggregate issuance to date. The team is the primary point of contact with major investment banks and other lenders and investors on Upstart’s capital markets offerings, while ensuring alignment across the business.

As the Capital Markets Manager, Structured Products, you'll help shape and execute the financing strategy that supports Upstart's AI lending marketplace. You'll lead complex warehouse, securitization, and other structured financing transactions while partnering closely with investors, banks, legal counsel, and internal stakeholders to deliver scalable funding solutions. You have a strong track record within structured finance and are energized by building relationships across Capital Markets participants. You will leverage your technical expertise to review asset- and bond-level cashflow modeling to support structuring discussions and lead negotiations across our Structured Products offerings.

Responsibilities

• Drive the execution of Upstart's securitization issuances, warehouse facilities, and other asset-backed financing transactions.
• Build and deepen strategic relationships with lenders, investors, and other key capital markets participants.
• Partner closely with internal and external legal counsel to negotiate, review, and execute financing agreements.
• Collaborate with cross-functional stakeholders—including Legal, Accounting, Data Analytics, Finance, and Operations—to structure and execute financing transactions.
• Present transaction updates, financing strategies, and market insights to senior leadership.
• Coach and mentor junior team members while contributing to the continued growth of the Structured Products team.

Requirements

• 7+ years of experience in Capital Markets, Structured Finance, Investment Banking, or a related field.
• Experience structuring and executing warehouse facilities, securitizations, asset-backed financings, or other structured finance transactions.
• Experience developing financial models and analyzing asset- and bond-level cash flows.
• Experience partnering with internal and external stakeholders to negotiate and execute financing transactions.
• Experience building and managing relationships with institutional investors, banks, or other financing partners.

Preferred Qualifications

• Experience in capital markets within a fintech or financial institution.
• Knowledge of consumer lending, structured finance, or asset-backed securities markets.
• MBA, CFA, or bachelor's degree in Business, Finance, Economics, or another analytical field.
• Skilled in deriving insights from complex datasets using Looker, SQL, Bloomberg, Intex, or similar analytical tools.
• Ability to cultivate relationships with institutional investors, banks, and financing partners.

Schedule

• You will be required to work from the New York, NY or Burlingame, CA office once to three times weekly.
• The majority of your work can be accomplished remotely, with most employees living and working anywhere in the U.S.
• In-person sessions vary by team and role; most teams meet once or twice per quarter for 2-4 consecutive days at a time.

Pay

United States | Remote - Anticipated Base Salary Range: $168,400 - $232,900 USD. Your actual base pay will depend on your geographic location, job-related skills, experience, and relevant education or training.

In addition, Upstart provides employees with target bonuses, equity compensation, and generous benefits packages (including medical, dental, vision, and 401k).

Benefits

• Competitive compensation, including base pay, bonus opportunities, and annual equity grants that vest quarterly.
• Retirement benefits: 401(k) or Group Retirement Savings Plan with a company match of $2 for every $1 contributed, up to $15,000 annually (USD in the US, CAD in Canada).
• Employee Stock Purchase Plan (ESPP) with discounted stock purchase options for eligible employees (US only).
• Comprehensive health coverage: medical, dental, vision, and wellness resources for US and supplemental health coverage for Canada.
• Health Savings Account contributions from Upstart for eligible plans (US only).
• Income protection benefits: life insurance and disability coverage.
• Paid time off, sick leave, and company holidays, in line with local requirements.
• Paid family and parental leave to support caregiving and major life moments (duration varies by country).
• Family-centered benefits to support fertility, parenthood, and caregiving needs.
• Employee Assistance Program (EAP) offering mental health support and life-centered resources.
• Financial wellness resources, including access to financial planning tools and a financial concierge service (US Only).
• Annual wellness allowance to support your physical and emotional well-being and personal development.
• Annual productivity allowance to invest in relevant tools and resources.
• Connection and community through team events, all-company updates, and employee resource groups (ERGs).
• Onsite perks, including catered lunches and fully stocked micro-kitchens when working from one of our offices in the Bay Area, Austin, Columbus, and New York City (opening Summer 2026!).